Market Rate means the rate as prevailing in the market and recommended by the Architect and as approved by the Employer on the basis of cost of materials, labour, plant etc inclusive of any tax, duty, octroi etc. at the time of execution of work.
Market Rate means the rate as decided by the Engineer / Employer on the basis of cost of materials at site inclusive of any tax, duty, octroi etc. at the time of execution of work.
Market Rate means the rate (including any adjustments during the Term) that institutional landlords of comparable buildings have accepted in current transactions from non-equity (i.e., not being offered equity in the buildings) and nonaffiliated tenants of similar financial strength for space of comparable size, quality (including all tenant improvements, Alterations and other improvements) and floor height in Class A laboratory/office buildings in the San Xxxxxx area for a comparable term, with the determination of the Market Rate to take into account all relevant factors, including tenant inducements, percentage of laboratory and office space, views, project amenities, parking costs, leasing commissions, allowances or concessions, if any, and whether or not such concessions are being offered to Tenant during such Extension Term. If, on or before the date which is 210 days prior to the expiration of the Base Term of this Lease or the prior Extension Term, Tenant has not agreed with Landlord’s determination of the Market Rate during the applicable Extension Term after negotiating in good faith, Tenant shall be deemed to have elected arbitration as described in Section 39(b). Tenant acknowledges and agrees that, if Tenant has elected to exercise an Extension Right by delivering notice to Landlord as required in this Section 39(a) Tenant shall have no right thereafter to rescind or elect not to extend the term of the Lease for such Extension Term. Notwithstanding anything to the contrary contained in the original Lease or this First Amendment, commencing on the commencement date of each Extension Term, Tenant’s Share of each earthquake deductible or occurrence of uninsured earthquake damage affecting to Premises shall not exceed $1.50 per rentable square foot of the Premises with respect to which Tenant is then obligated to pay Base Rent under this Lease during such Extension Term (the “Extension Cap”). Following earthquake damage to the Project, Tenant shall pay Tenant’s Share of any such deductible or uninsured damage in equal monthly installments (not to exceed the Extension Cap) amortized over the remaining balance of the Extension Term.
Examples of Market Rate in a sentence
Market rate parcels are not required to include affordable units, however the City reserves the right to include deed-restricted moderate income units in these developments through the provision of gap funding for such units.
More Definitions of Market Rate
Market Rate means the rate as decided by the Employer on the recommendations of the Employer/Consultant based on the cost of materials and labour at the site where the work is to be executed plus the percentage mentioned elsewhere to cover, all overheads and profits.
Market Rate means the rate as decided by the Engineer/SMVDU, on the basis of cost of materials inclusive of any taxes, duty, octroi or such statutes in force at the time of work and cost of labour at site where the work is to be executed plus the percentage to cover all overheads and profit.
Market Rate means 135% of the load-weighted average of the hourly LMPs at the corresponding load zone, as determined for any delivery period.
Market Rate means prevailing Per Km rate for the Urban buses with similar quality and specifications anywhere in India.
Market Rate means the annual amount per square foot that a willing tenant would pay and a willing landlord would accept, in an arms-length lease extension for comparable space (exclusive, however, of Alterations paid for by Tenant) for a comparable period of time, giving consideration to the nature and character and use of the Building, the Permitted Use, the approximate amount of operating expenses to be paid by the tenant, the number of parking spaces available for use by Tenant, the amenities and services provided and all other applicable conditions of the tenancy; provided, however, that in no event shall the Market Rate be less than the Base Rent payable as of the date immediately preceding the commencement of such Extension Term increased by the Rent Adjustment Percentage multiplied by such Base Rent. If, on or before the date which is 180 days prior to the expiration of the Base Term of this Lease, Tenant has not agreed with Landlord’s determination of the Market Rate and the rent escalations during the Extension Term after negotiating in good faith, Tenant shall be deemed to have elected arbitration as described in Section 39(b). Tenant acknowledges and agrees that, if Tenant has elected to exercise the Extension Right by delivering notice to Landlord as required in this Section 39(a), Tenant shall have no right thereafter to rescind or elect not to extend the term of the Lease for the Extension Term.
Market Rate means the then prevailing market rate for a comparable term commencing on the first day of the Renewal Term for tenants of comparable size and creditworthiness for comparable space in the Building and other first class office/R&D buildings of comparable age with similar projects in the vicinity of the Building.
Market Rate when used in this Agreement, unless the context otherwise requires, shall mean, at any given time, the rate conclusively determined (in the absence of manifest error) by a Party to be the market rate available to that Party in the Market at such time for the purchase of a specified Financial Instrument, with a second specified Financial Instrument for delivery on a specified date;